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April 2011Berkshire Partners Invests in Engineering Solutions & Products

Boston, Massachusetts, April 21, 2011 — Berkshire Partners LLC, the Boston-based private equity firm, today announced it has partnered with the management of Engineering Solutions & Products LLC (ESP), a leading government services provider, to recapitalize the company. Terms of the transactions were not disclosed.

Headquartered in Eatontown, New Jersey, ESP is a premier provider of acquisition, logistics and technology support services to the U.S. Department of Defense, particularly in the Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance ("C4ISR") area. Founded in 2000, the company has enjoyed steady growth and strong financial performance driven by high success rates on bids for new opportunities and recompetes. ESP employs over 1,200 engineers, technicians and consultants with experience in IT services, military acquisition, logistics and program management; nearly all ESP employees have security clearances.

ESP's founder James E. Hoffman, Jr. will retain a significant ownership position in the company and will remain Chief Executive Officer.

Berkshire Managing Director Lawrence S. Hamelsky commented, "We are impressed by ESP's exceptional track record of performance, deep customer relationships and strong culture. ESP is well-positioned to continue providing critical services to the C4ISR community while expanding its service offering and customer base. Berkshire is proud to partner with and support Jim and his team in this exciting chapter of growth."

ESP Founder and Chief Executive Officer James E. Hoffman, Jr. said, "Berkshire's history of working with founder-led management teams and cultural fit with ESP make it the ideal partner to help take ESP to its full potential."

Berkshire Partners has a successful track record of investing in services companies and companies with an exposure to government customers. Prior transactions include TransDigm, a designer, producer and supplier of commercial and military aircraft components; AmSafe, a leading manufacturer of safety and securement equipment for the aviation, military and specialty vehicle markets; and Bartlett Nuclear, a provider of radiation protection support personnel and decontamination services to the Department of Energy and broader U.S. nuclear industry.

The Chertoff Group and the Avascent Group served as strategic advisors to Berkshire in support of this transaction.

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Source: Berkshire Partners via Business Wire
Title: Berkshire Partners Invests in Engineering Solutions & Products 
Date Published: April 21, 2011
Date Accessed: August 7, 2013

Company Details

Engineering Solutions & Products
  • Chantilly, Virginiaespcorp.org
  • Year Invested2011
  • Year Realized2013
  • IndustryBusiness Services & Technology
  • TypesManagement Recapitalization

View Details